INTERIM REPORT JANUARY–MARCH 2023 A GOOD START TO THE YEAR

“The Group had a good start to the year and presented its best operating profit to date for a quarter. Net sales increased
23 percent, with organic growth contributing 7 percent, acquisitions 9 percent and positive currency movements 7 percent.
EBIT, excluding items affecting comparability, increased 15 percent and the operating margin was 16.2 percent (17.3).
Operating cash flow improved significantly compared with the preceding year.

The general cost inflation was well balanced using price adjustments and efficiency improvements.

EBIT and the EBIT margin increased year on year, with sales
growth and price adjustments fully offsetting the general
inflationary pressure.